Cost of living in Martin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Martin is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Tennessee, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Martin is 81, with 100 being the average.
The cost of living index in Martin is 0.8x lower than the national average.
Martin ranks as the #20 cheapest in Tennessee out of 105.
Martin ranks as the #290 cheapest out of 6,412 in the US.
The median home value in Martin is $135,000.
The median income in Martin is $37,487.
According to the most recent data on the cost of living, Martin has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Tennessee, Martin has a cost of living index that's 0.9x lower than Tennessee's index of 90.
The standard of living in Martin ranks as #20 most affordable out of the 105 places we measured in Tennessee. By definition, that implies Martin ranks as the #85 most expensive place in the Volunteer State.
For more reading on life in Martin, check out:
Six factors go into calculating the cost of living index in Martin. Here is how it fairs on each of the criteria:
The Services index in Martin is 91.
The Groceries index in Martin is 89.
The Health index in Martin is 81.
The Housing index in Martin is 66.
The Transportation index in Martin is 89.
The Utilities index in Martin is 94.
|Living Expense||Martin||Tennessee||National Average|
Housing swings affordability the most between places in Tennessee, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Martin is $135,000.
The Median Rent in Martin is $693.
The Median Income in Martin is $37,487.
The Home Value To Income in Martin is 3.6x.
The Rent To Monthly Income in Martin is 0.22x.
|Median Home Value||$135,000||$193,700||$244,900|
|Home Value To Income||3.6x||3.3x||3.5x|
|Rent To Monthly Income||0.22x||0.2x||0.2x|
The cost of living varies in the cities and towns around Martin. Here's a quick look at the cost of living in the most populous nearby places:
Jackson, TN has a cost of living index of 86, 1.1x Martin.
Wilson, NC has a cost of living index of 92, 1.1x Martin.
Murray, KY has a cost of living index of 83, 1.0x Martin.